Australian home values fall 7th month; capital-city prices drop fastest in 40 years

Australian home values fell for a seventh consecutive month, with capital-city prices declining at the fastest pace in 40 years as rising mortgage rates dampen demand. The downturn is broadening from Sydney and Melbourne to Brisbane and Perth, which led October declines. Despite the slide, most homeowners retain sizeable gains from prior strong growth, cushioning the macro impact.

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